Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against ApeX Omni+0.123%109s7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.388% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 3 days (all we have)−0.144%−$14 · spread now +0.123%, 7d avg −0.032%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.155% dearer against ApeX Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.032%. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ADAUSDT	0.2441	0.0100	pay 0.0013% / 1h	9m 46s	$55K	$582K	50x
Short	Bybit ADAUSDT	0.2444	0.0100	get 0.0100% / 8h	9m 46s	$71.1M	$104.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → −0.032%: $15.46
Slippage, 4 orders: −$17.81
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$23.36
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 3 min ago; Bybit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy ApeX Omni live order book, 3 min ago	4.09 bp	12.5 bp −$13	40.9 bp −$409	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.05 bp	7.5 bp −$8	11.2 bp −$112	33.9 bp −$3,387	136.9 bp −$68.5K

ADA on 37 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ADA-USD	0.0000%	1h	0.2445	+0.150%	$201K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2443	+0.082%	$213K	$6.1M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2445	+0.147%	$84K	—	150x	as long as short
Coinbase International ADA-PERP-INTX	+0.0056%	1h	0.2441	0.000%	$404K	$7.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2447	+0.242%	$2.4M	$1.3M	10x	as long as short
Hyperliquid ADA	+0.0100%	1h	0.2447	+0.262%	$42.4M	$14.3M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2446	+0.194%	$1.2M	$930K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2446	+0.186%	$157K	$146K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2445	+0.153%	$101.1M	$366.4M	75x	as long as short
Bybit ADAUSDTshort	+0.0100%	8h	0.2444	+0.123%	$71.1M	$104.1M	75x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2445	+0.164%	$32.3M	$107.2M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2445	+0.164%	$97.6M	$60.4M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2444	+0.123%	$52.3M	$51.1M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2445	+0.147%	$29.9M	$18.0M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2446	+0.205%	$65.8M	$43.7M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2446	+0.205%	—	$6.6M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2446	+0.197%	$106K	$418K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2439	−0.076%	$4.2M	$1.0M	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2441	+0.011%	$65K	$280K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2441	−0.003%	$291K	$3.8M	10x	as long as short
ApeX Omni ADAUSDTlong	+0.0100%	1h	0.2441	long leg	$55K	$582K	50x
Polymarket Perps ADA-USD	+0.0100%	1h	0.2446	+0.188%	$94K	$641K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2445	+0.164%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2445	+0.166%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2446	+0.206%	$9K	$767K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2445	+0.164%	$336	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2445	+0.173%	$1.3M	$5.4M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2444	+0.123%	$47.7M	$5.9M	50x	as long as short
Paradex ADA-USD-PERP	+0.0100%	8h	0.2445	+0.151%	$20K	$250	20x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2445	+0.165%	$551K	$1.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0114%	1h	0.2445	+0.158%	$6.1M	$11.7M	50x	as long as short
Phoenix ADA	+0.0130%	1h	0.2442	+0.061%	$4K	$78K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2441	0.000%	$4.3M	$5.5M	75x	as long as short
Injective ADA/USDC PERP	+0.0254%	1h	0.2471	+1.229%	$849	$202K	12x	as long as short
Reya ADARUSDPERP	+0.0283%	1h	0.2444	+0.125%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0564% / S −0.0313%	1h	0.2444	+0.122%	$121K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+2.4745%	1h	0.2506	+2.646%	$503K	$430K	50x	as long as short